Actuary

DAVID ANDRIST

ActuaryThe Hartford Insurance CompanyBS Math BYU

“I am a casualty actuary at The Hartford Insurance Company. Casualty actuaries deal with catastrophic or unnatural risks that can occur to people or property. Actuaries use skills in mathematics, economics, finance, probability and statistics, and business to assess the risk of certain events occurring.”

“While I use math every day the most beneficial part of my math background have been my creative thinking and problem solving skills. I enjoy my job and look forward to a new set of challenges each day.”

An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries apply mathematical and statistical theories to solve real business problems. Actuaries assemble and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property. They also address financial questions; including those involving the way a company should invest its resources to maximize its return on investments. “Actuaries are in high demand, and they are highly paid for the services they render.”

Education:

Actuaries need a strong foundation in mathematics, statistics, and general business. Coursework in computer science, writing, and public speaking are also helpful. The Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA) certify actuaries to work with the public through the successful completion of exams.

When Math is Used:

Actuaries assemble and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property. Using their broad knowledge of statistics, finance, and business, actuaries help design insurance policies, pension plans, and other financial strategies in a manner which will help ensure that the plans are maintained on a sound financial basis.

Potential Employers:

Actuaries are essential to the insurance industry; to other businesses and corporations, including sponsors of pension plans; and to government agencies, such as the Government Actuary’s Department in the UK or the Social Security Administration in the US.

Facts:

In 2009, a Wall Street Journal survey on the best jobs in the United States listed an actuary as the second best job. In 2006, U.S. News & World Report included actuaries among the 25 Best Professions that it expects will be in great demand in the future.